Capital Acquisitions Tax Consolidation Act 2003 section 91

Application (Chapter 2)

Section 91 confirms that business relief (Chapter 2) applies to gifts and inheritances of relevant business property, but expressly excludes discretionary trust tax from its scope.

• Business relief under Chapter 2 applies to both gifts and inheritances of relevant business property.
• The relief does not apply to the once-off discretionary trust tax charged under section 15(1).
• The relief also does not apply to the annual discretionary trust tax charged under section 20(1).
• Apart from these two discretionary trust tax charges, business relief is available for all qualifying gifts and inheritances.